The Co-operative Bank current accounts for June 2024

Get worldwide travel insurance, UK and European breakdown cover and phone insurance with The Co-operative Bank's ethical, customer-led approach

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The Co-operative Bank

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Quick and simple switching
Small branch network

With the Co-op’s current accounts, you can get a range of benefits and features while also supporting their ethical approach to banking. It also runs switching incentives from time to time. Here’s an overview of the current accounts offered.

Compare The Co-operative Bank’s current accounts

1 - 4 of 4
Name Product Finder Score Account fees Funding requirement Interest (AER) Arranged overdraft Incentive Representative example Link
Student Account
Not yet rated
£0
No minimum funding requirement
0% AER
N/A
Current account switch service guarantee badgeRepresentative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 35.9% EAR variable.
View details
Cashminder
Not yet rated
£0
No minimum funding requirement
0% AER

Current account switch service guarantee badge
View details
Current Account
4.0
★★★★★
£0
No minimum funding requirement
0% AER
35.9% EAR variable
tag icon£75 cashback for accounts opened and switched using Current Account Switching Service.
Current account switch service guarantee badge
Aged 16 or over, or 18 or over when requesting the optional overdraft. Subject to status and eligibility.
Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 35.9% EAR variable.
View details
Everyday Extra
Not yet rated
£15 per month
No minimum funding requirement
0% AER
35.9% EAR variable
tag icon£75 cashback for accounts opened and switched using Current Account Switching Service.
Current account switch service guarantee badge
To apply you must be between 18 & 79 years old. £15 account fee per month. Subject to status and eligibility. Exclusions & limitations apply.
Offer is subject to eligibility criteria, which includes completing a full account switch, registering for online banking, making a minimum of five debit card payments, depositing at least £800 and having two active direct debits within 60 days of account opening. T&Cs apply.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 35.9% EAR variable. T&Cs apply.
View details
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Types of current account from The Co-operative Bank

  • Current account

    Attractive features of The Co-operative’s main current account include monthly rewards via their everyday rewards opt-in, a mobile app and no monthly fee.

  • Everyday extra

    The everyday extra account comes with worldwide travel insurance, UK and European breakdown cover and mobile phone insurance from. You’ll need to hold a current account or current account plus with The Co-operative Bank in order to upgrade to this account, and you’ll need to pay a monthly fee.

  • Cashminder

    This account offers a simplified way of managing funds for those who may not qualify for other accounts. There’s no overdraft facility, cheque book or monthly account fee, ensuring a greater degree of control over your spending. Unless you’re in financial difficulty, you can’t open this account if you already have an account with Co-operative Bank or smile.

  • Student accounts

    The bank’s student account offers an interest-free overdraft, starting at £1,400.

The Co-operative bank offers bank accounts specially designed for students. Learn more about its student account offerings.

The Co-operative Bank customer reviews

In our independent 2024 customer satisfaction survey, 84% of The Co-Operative Bank’s users said they’d recommend the brand to a friend. Customers highlighted the bank’s excellent customer service and straightforward bank accounts. However, some cited a lack in loyalty rewards and outdated online banking. Here’s what some of those Co-Operative Bank customers had to say:

“I love the bank’s ethos and transparency. It gives me everything I need from a bank online, great customer service too.”

“It is a great bank, that are reliable and are always there to help if you need them”

“This bank has always been perfect for my needs and has provided good service and ethical standards.”

On the Apple App Store, The Co-Operative Bank is rated 4.7 out of 5 stars from almost 48,000 reviews. On the Google Play Store, The Co-Operative Bank is rated 4.3 out of 5 stars from 33,000 reviews (February 2024).

Pros and cons of banking with The Co-operative Bank

  • Perks. Perks include quick and simple switching with The Co-operative’s current account switch guarantee, no monthly fees, monthly rewards and an ethical approach to banking.
  • Multiple ways to bank. The Co-operative Bank offers a range of ways to handle your funds, including a mobile app and a network of branches.
  • Global acceptance. If you bank with The Co-operative Bank, you’ll get a Visa Debit card, so you don’t have to worry about card acceptance no matter where you are in the world.
  • Round the clock assistance. If you lose your card, or if it’s stolen, you can call The Co-operative Bank 24/7 to get assistance. You can also use the mobile banking app to manage your money round the clock.
  • Small branch network. Unlike larger high street banks, The Co-operative Bank doesn’t have that many physical branches across the country.
  • Packaged account fees. The monthly fees for Co-op’s Everyday Extra packaged account are high when compared to rivals’ packaged account offerings.

Customer service information for The Co-operative Bank

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Opening an account with The Co-operative Bank

You can apply to open an account either in store or online. Information you’ll need includes how much you earn (including pensions or benefits), any previous addresses from the last 3 years, the name and address of your employer and your current bank details. Your credit will be checked using a credit reference agency. You should hear a decision about your application within 5 working days. If you don’t hear from them, you can contact The Co-operative Bank by phone on +44(0)3457 212 212.

No one jumps for joy at the prospect of diving into T&Cs, but it's your shot to unveil any legal mysteries before tapping "I agree". Co-op's current account terms and conditions are more complex than the average we encountered while assessing 16 of the most popular UK account providers. They should take about 49 minutes to read.

Our verdict

The Co-Operative Bank offers great current accounts if you’re looking to earn rewards for spending with no monthly fees.

Frequently asked questions

Banking scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

To find out more, read our full methodology.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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Written by

Oli Collins

Oli is a writer for Finder UK. He writes guides, features and news about a range of topics, including banking, credit cards, mortgages and personal loans. He studies English Literature at the University of Sussex, and in his spare time enjoys cycling and playing the guitar, though not necessarily at the same time. See full profile

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